EU Ethylene Imports Returns to Pre-Pandemic Level of $3.4B

IndexBox has just published a new report: 'EU - Ethylene - Market Analysis, Forecast, Size, Trends And Insights'. Here is a summary of the report's key findings.

The size of the ethylene market in the European Union was estimated at $22.4B in 2021. This figure reflects the total revenues of producers and importers (excluding logistics costs and intermediaries' margins, which will be included in the final consumer price). 

EU Ethylene Consumption by Country 

In 2021, the amount of ethylene consumed in the European Union was estimated at approx.17M tons. In general, consumption showed a modest decrease from 2007 to 2021. 

The countries with the highest volumes of ethylene consumption in 2021 were Italy, Germany and Belgium, with a combined 46% share of total consumption. Spain, the Netherlands, France, the Czech Republic, Austria, Poland, Portugal, Greece and Sweden lagged somewhat behind, together comprising a further 46%.

From 2007 to 2021, the biggest increases were in Austria (+3.4%), while ethylene consumption for the other leaders experienced more modest paces of growth.

EU Ethylene Production by Country 

In 2021, the amount of ethylene produced in the European Union declined modestly to 16M tons, with a decrease of -4% compared with 2020. Overall, production showed a slight reduction from 2007 to 2021.

The countries with the highest volumes of ethylene production in 2021 were Italy, the Netherlands and Germany, with a combined 48% share of total production. Spain, France, Belgium, the Czech Republic, Austria, Portugal, Poland, Greece and Finland lagged somewhat behind, together comprising a further 44%.

From 2007 to 2021, the biggest increases were in Austria (+3.4%), while ethylene production for the other leaders experienced more modest paces of growth.

EU Ethylene Imports

Supplies from abroad of ethylene totalled 3.2M tons in 2021. Overall, imports saw a pronounced slump from 2007 to 2021. The most prominent rate of growth was recorded in 2015. Over the period under review, imports reached the peak figure at 4.4M tons in 2007; however, from 2008 to 2021, imports failed to regain momentum.

In value terms, ethylene imports skyrocketed from $2.5B in 2020 to $3.4B in 2021. This figure includes trade between EU member countries. In general, imports recorded a noticeable decline. Over the period under review, imports attained the peak figure at $5.3B in 2008; however, from 2009 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Belgium represented the major importing country with an import of around 1.7M tons, which amounted to 53% of total purchases. Germany (518K tons) took a 16% share of total imports, which put it in second place, followed by Spain (8.6%), the Netherlands (7.9%) and Sweden (5.7%). The following importers - France (106K tons) and Italy (97K tons) - each accounted for a 6.4% share of total volume.

In value terms, Belgium ($1.9B) constitutes the largest market for imported ethylene in the European Union, comprising 55% of total supplies. The second position in the ranking was occupied by Germany ($496M), with a 15% share of total imports. It was followed by the Netherlands, with an 8.4% share.

In Belgium, ethylene imports shrank by an average annual rate of -3.3% from 2007-2021. In the other countries, the average annual rates were as follows: Germany (-3.4% per year) and the Netherlands (-4.4% per year).

Import Prices by Country

In 2021, the ethylene import price in the European Union amounted to $1,068 per ton, rising by 46% against the previous year. There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was France ($1,217 per ton), while Spain ($639 per ton) was amongst the lowest. From 2007 to 2021, the most notable rate of growth in terms of prices was attained by France (+0.5%), while the other leaders experienced a decline in the import price figures.

EU Ethylene Exports

In 2021, the amount of ethylene exported in the European Union declined to 2.2M tons, with a decrease of -5.1% against the previous year's figure. Overall, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2010. The volume of export peaked at 2.5M tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, ethylene exports skyrocketed to $2.3B in 2021. This figure includes trade between EU member countries. Over the period under review, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2010. The level of export peaked at $3.2B in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

The Netherlands represented the largest exporter of ethylene in the European Union, with the volume of exports recording 940K tons, which was near 43% of total supplies in 2021. Germany (310K tons) ranks second in terms of the total exports with a 14% share, followed by Belgium (12%), Italy (9.4%), France (8.3%) and Portugal (5.4%). Finland (89K tons) held a minor share of total volume.

In value terms, the Netherlands ($1.1B) remains the largest ethylene supplier in the European Union, comprising 46% of total exports. The second position in the ranking was occupied by Belgium ($309M), with a 13% share of total supplies. It was followed by Germany, with a 12% share.

In the Netherlands, ethylene exports shrank by an average annual rate of -2.2% from 2007-2021. In the other countries, the average annual rates were as follows: Belgium (+1.3% per year) and Germany (+0.3% per year).

Export Prices by Country

The ethylene export price in the European Union stood at $1,063 per ton in 2021, jumping by 44% against the previous year. Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in France ($1,183 per ton) and Belgium ($1,155 per ton), while Finland ($815 per ton) and Germany ($903 per ton) were amongst the lowest. From 2007 to 2021, the most notable rate of growth in terms of prices was attained by France (+0.1%), while the other leaders experienced mixed trends in the export price figures.

Source: IndexBox Market Intelligence Platform